Have you ever stopped for the moment and thought about how your beliefs about your facilities and space impact the cost structure and opportunities of your business?
You may be thinking, “What do my beliefs have to do with that?” The answer is quite a bit.
Everyday you (and everybody else) make decisions that are highly dependent on what you believe to be true. A critical core belief that is rarely thought about is what you believe to be outside of your control.
It’s a natural, necessary coping mechanism that allows us to believe we are maximizing the results we can achieve with the time we have. After all, we’ve been taught that it’s a complete waste of time to focus on things you can’t control. But, think about this question for a moment:
What if you could control what you believe to be uncontrollable?
Facilities and space is typically one of the top 3 – 5 controllable expenses for any growth-oriented, people driven business. Most executives believe that facilities and space are a necessary expense to be minimized.
Yet, when you study the best businesses – whether their small, medium or large multinationals – you’ll see that they view their facilities through a very different prism. They view real estate as an investment in their strategy. They understand that the decisions they make in this area can:
- Directly impact the people that work for them.
- Increase (or decrease) the productivity and retention of those people.
- Help manage the cash flow of the business.
- Enhance (or hinder) their overall business performance.
While companies spend hundreds of thousands to millions of dollars developing their go-to-market strategies, their product/services and their management approach, they ignore the central cost of their facilities. By no means do we suggest that these other issues aren’t important, but don’t forget that you have more control – and opportunity – over your facility than you may believe.
It’s always a good idea to test your assumptions. Take the opportunity now and see what beliefs you may have that are costing you every day.